November 29, 2007

Baltic stocks hit year-low on fears

TALLINN - Baltic stocks sank to their lowest level in a year in the week ending Nov. 23 as foreign investors cut their exposure to risks connected with a possible devaluation of a local currency or a “hard-landing” in the region’s overheated economies.

The Baltic Benchmark Index of blue-chip stocks fell 4.63 percent over the five trading-day period to 680.7, though it recovered slightly on Nov. 23 to reach 683.2.